C. A rightward shift of a supply curve

A. 1/5 table for Mike and 1/3 table for Sandy

Mile and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, where sandy can make 6 tables or 18 chairs. Given this, we know that the opportunity cost of 1 chair is

C. Understand that the opportunity cost of attending college is very high

C. Quantity will fail and the effect on price is ambiguous

What will happen to the equilibrium prices and quantity of new cars if the price of gasoline rises, the price of steel rises, public transportation becomes cheaper and more comfortable, and auto-workers negotiate higher wages

A. How fast the number of dollars in your bank account rises over time

D. Productivity

B. GDP is unaffected because previously the rent payments were included in GDP and now the rent payments are replaced by GDP by the estimate of the value of housing services

Suppose an apartment complex converts to a condominium, so that the former renters are now owners of their housing units. Suppose further that a current estimate of the value of condominium owners' housing services is the same as the rent they previously paid. What happens to GDP as a result of this conversion

B. Neither the first nor the second

A country with a relatively low level of real GDP per person is considering adopting two polices to promote economic growth. The first is to increase barriers to trade. The second is to restrict foreign portfolio investment. Which of these polices would most economist think would promote growth.

D. The value of the cars in the inventory will be counted as part of 2006 GDP, and the value of the cars sold in 2007 will not increase 2007 GDP

C. 1

Senator Noitall says that in order to help poor countries develop, the US should: 1 Prevent US corporations from investing in poor countries because they take profits that the poor countries should have; 2. Not import goods from poor countries that use child labor; 3. Work to promote political stability in poor countries; and 4. Reduce poor countries' reliance on market forces in their economies. How many of these ideas are likely to help poor countries grow